World Economy

All central banks assert they move independently from the Fed. In practice, they tend to replicate broad trends in American credit

The argument that a country can be an active participant in global trade but avoid financial globalisation is fundamentally faulty

Citigroup economists on Wednesday raised their global growth forecast slightly and see a "less hard" landing but still expect the world's economy to grow at the slowest pace in 40 yearsq

Economic revival may not sustain

A strong India-US relationship is a must for democracy, advancement in technology and a robust world economy, a top American senator has said, emphasising that close bilateral ties will be a crucial counterweight to outcompete China. Describing India as one of the "leading powers" of the world, Senator Chuck Schumer said close India-US ties would also be key to responding to China's authoritarianism. The Senate Majority Leader is leading a high-powered Congressional delegation of senators to India. The delegation, led by Schumer, called on Prime Minister Modi in New Delhi on Monday They discussed new opportunities for consolidating the India-US ties in critical technologies, clean energy transition, joint development and production, and trusted and resilient supply chains. The prime minister welcomed the Congressional delegation to India and appreciated the consistent and bipartisan support of the US Congress for deepening India-US bilateral ties, his office said in a statement. W

"The shock of war on demand and prices has cascaded through the global economy and, in conjunction with COVID and other policy decisions, has created these headwinds to growth," said Robert Kahn

Business Standard brings you the top headlines at this hour

Asking the world to be pragmatic and collaborate, IMF chief Kristalina Georgieva on Friday said fragmentation can cost up to 7 per cent of the global GDP. "If we don't unite now, we'll face significant risk to the economy and people's wellbeing," she said during a session on global economy on the last day of the World Economic Forum Annual Meeting 2023. The International Monetary Fund Managing Director said if we look at medium-term growth prospects, how we handle the supply chain issues, that will decide our future prospects. She said her message to the world is to "be pragmatic and collaborate". Asked what will take the IMF to upgrade its global growth forecast, she said, "Last year, we downgraded the growth projections three times and not downgrading further itself is good news at the moment." Also, the labour market needs to be looked at seriously, as for anyone, having a cost of living crisis and a job is much better than having no cost of living crisis and no job, she ...

The rupee depreciated by 4 paise to close at 81.34 (provisional) against the US dollar on Friday, tracking a rebound in crude oil prices and sustained foreign fund outflows. Forex traders said positive macroeconomic data and broad weakness in the American currency supported the rupee and contained the depreciation bias. At the interbank foreign exchange market, the rupee opened on a weak note at 81.32 against the greenback, but lost ground and fell to an intra-day low of 81.45. The domestic currency finally settled at 81.34, down 4 paise over its previous close of 81.30. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent lower at 102.18. Global oil benchmark Brent crude futures rose 0.42 per cent to USD 84.38 per barrel. According to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee registered the biggest weekly gains after November 11 on the back of better-than-expected economic data and broad-bas

Spillovers from a period of pronounced weakness in the US, China and the European Union are exacerbating other headwinds faced by poorer nations

Asian shares rallied on Monday as hopes for less aggressive U.S. rate hikes and the opening of China's borders bolstered the outlook for the global economy

The U.S. dollar was steady on Monday as investors digested a clutch of economic data released last week that stoked hopes of the Federal Reserve slowing the pace of its interest rate hikes

In years before Covid-19 pandemic, China was the worlds most important source of international travelers -- its 155 mn tourists spent more than a quarter of a trn dollars beyond its borders in 2019

India's headline inflation moderated to an 11-month low 5.88% in November from 6.77% the month before

Canada's merchandise exports decreased 2.3 per cent in November 2022, in large part because of a decline in exports of energy products, according to official figures

The govt's official PMI on Saturday showed that China's abrupt reversal of its Covid Zero policy pushed economic activity - its service sector in particular - to the slowest pace since February 2022

That institution warned in October that more than a third of the world economy will contract and there is a 25% chance of global GDP growing by less than 2% in 2023

These questions will shape the world economy in the new year, and matter to India

India is set to assume the presidency of the G-20 grouping, the premier forum for international economic cooperation, on Thursday

Structural unemployment problem, social unrest, poor state of education and health care, and nutrition deficits among children - tomorrow's workforce - temper optimism on India, writes T Ninan